Agreement in Principle (AIP)

An Agreement in Principle (AIP), sometimes known as a mortgage in principle or a Decision in Principle, is a declaration given by a lender to state how much they are preparing to lend you based on basic information. 

An Agreement in Principle involves a lender looking at your credentials and performing a soft credit check to give them an indication of your credit score. It can give you a good indication of how much you can borrow before you even finalise the house purchase.

However, it is important to note that this declaration is not legally binding. The amount the lender is willing to let you borrow could change following a more detailed assessment of your income, spending and credit history.

If you find your credit score is affecting your Agreement in Principle, please see our guide on how to improve your credit score. 

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